Answer: True
According to the law of demand, the demand for a good increases when its price falls. Thus, when a fruit or vegetable is in season, it is relatively less expensive than in off seasons. Thus, consumers buy more of these seasonal fruits in season. Thus, demand for the good increases when it becomes cheaper.
Thus, the statement is true.
a. The amount of land on the balance sheet will be $36,000 which is historical cost of the land. Land is not subject to depreciation so it is recorded at historical cost and not carrying value.
b. The amount of rent expense reported on Income statement will be $5,500 [ $ 6,000 * 11 /12 months ]
c. The total amount of liabilities reported on the balance sheet will be $43,800. This includes the contingent liabilities and warranties.
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Answer:
The option there are both monetary and non-monetary considerations that must be taken into account, is the best option that characterizes the factors involved in a cost-benefit analysis.
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$3,504,000
Using GRM (Gross Rental Multiplier) to calculate value, simply multiply the estimated rental income by the GRM:
$24,000*146= $3,504,000
